Research On The Influence Of Interlocking Director's Network On Enterprise Innovation Ability

As an important micro-subject in the national macro-innovation system,private enterprises play a key role in the new technology field.However,compared with state-owned enterprises,the private high-tech enterprises in the start-up phase are relatively scarce in resources.By establishing links with the external environment and alleviating constraints on innovation resources,it has become a realistic choice for private-owned enterprises of our country.Interlocking directors' network is an important manifestation of network relations among enterprises.Studying the platform effect of interlocking directors' network to integrate social resources has become a new focus in the research field of corporate governance and sociology.Therefore,our studies have important enlightenment for understanding the board group faultlines in firms' innovation process,and promoting the strategy of innovation-driven development.This paper uses a combination of theoretical analysis and empirical testing methods.First of all,the paper systematically combs and summarizes the existing literature at home and abroad,defines the core concepts and expounds the relevant theories;secondly,From three aspects of the main effect of interlocking directors' network on enterprise's innovation ability and the moderating effect of board group faultlines strength and distance on the relationship between them,this paper makes a theoretical analysis and puts forward corresponding research hypotheses.Then,Filtering the sample and explaining data sources and the measurement of the core variables,then building an econometric model.Finally,taking 985 private technology start-ups on the gem as the research sample,this paper empirically examines the impact of the interlocking directors' network on the the enterprises' innovation ability.Empirical results shows that:(1)Interlocking board network centrality degree and structural hole have significant positive effects on enterprise's innovation ability at the same time;(2)The enterprises' innovation ability do not benefit from interlocking directors network equally,board group faultlines with stronger strength and greaterdistance are able to use interlocking network to improve enterprise's innovation ability;(3)The results also reveal that the moderating effects of board group faultlines depending on the structure of leadership and board shareholding level.